Public sector reseller Agilisys has adopted a "John Lewis-style" ownership model by becoming an employee-owned trust (EOT), claiming is it one of the first in the UK to make the move.
The London-based reseller has about 1,700 staff and provides IT and business services to the public and private sector.
It claims the move to become an EOT, which was announced today, is a "significant step forward" in its growth plans and will secure its future as a successful, independent business.
According to the Employee Ownership Association, EOT schemes account for about four per cent of UK GDP annually. It claims staff-owned business are often more productive and have a more engaged workforce.
John Lewis is a well-known proponent of the model but a number of other businesses in all sectors across the UK use it too.
Agilisys said there will be no major changes to the company's management structure and that its founder shareholders and board will "continue to actively support the business".
Charles Mindenhall, chairman and one of Agilisys' founders, said the move to become an EOT is an exciting one.
"I am delighted that we have created the Agilisys Employee Ownership Trust and that the majority of the business is now owned by the trust for the benefit of colleagues," he said.
"I believe that by introducing significant employee ownership it will provide an exciting structure for the continued growth of Agilisys which is strongly consistent with and a natural extension to the collaborative culture and principles which are in place within the Agilisys group. I am excited about the future of the business, and as the chairman look forward to continuing to deliver important services to our existing customers as well as the opportunity to work with new prospective clients."
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